SteveT
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Post by SteveT on May 29, 2018 11:13:33 GMT
FWIW, I know the location of the cottage near Swanage (loans 1258/1259) rather well, passing it regularly. I'd be very surprised if it doesn't sell for something around the OMV, given its position and open views to the Purbeck Hills (although I think Corfe Castle itself is probably obscured by a tree, looking at the photos).
It also doesn't surprise me that the borrower is marketing it currently at well above this level. This is prime second-home territory (I suspect it's currently used as such, given its condition inside vs outside) and summer is peak grockle season, with lots of deep-pocketed visitors from London looking in the local estate agent windows. If not sold by autumn then I'd expect a significant price cut.
Although Grade II listed, it's on a good size plot and sits within the village Settlement Boundary but outside the village Conservation Area (although the whole area is AONB) so a sensitively designed, visually separated extension is quite feasible. Possibly also even scope to sell half the garden as an infill plot; the planners would fight it but there are plenty of local precedents.
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bababill
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Post by bababill on May 30, 2018 0:19:50 GMT
Thanks for sharing your local knowledge SteveT. Its a shame BC can't get some of their fundamentals correct. Example: On the main availability window Tranche A is showing LTV of 67% at 0.8% and Tranche B LTV of 63% at 1%. We might assume this is just a simple reversal of figures but the executive summary states a LTV of 51% for Tranche A. Again, we might let this go as simple typos....But these sort of typos have translated into wrong interest allocations for me and gross errors of actual profitability. Yes, they have always been corrected when brought to the attention but that is not really a satisfactory arrangement.
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